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A special team has been established to help the Government devise strategies to revive the sluggish economy.
It will be led by Director-General of the Planning Institute of Jamaica (PIOJ), Dr. Gladstone Hutchinson.
The announcement was made on Thursday by Finance Minister Audley Shaw.
He said the Government is moving decisively to stimulate economic growth.
“We have asked the head of the Planning Institute of Jamaica to do some special work on that for us. The Prime Minister has asked me to put together a team and I have done so and they have done preliminary work along with my colleague Minister of Industry and Commerce, Minister of Tourism, Minister of Agriculture,”
“We are working on strategies on how we can further stimulate economic growth in Jamaica…we can’t borrow our way to growth we know that,” Mr. Shaw said
In the meantime, the Finance Minister is hoping that several mega-projects on the drawing board will help to kick start the economy.
He pointed to the downtown Kingston renewal project and investment deals in the tourism and energy sectors.
“The Falmouth cruise ship terminal that is about to be opened in February of next year, US$220 million, a joint venture with Royal Caribbean cruise lines that is an important venture,”
“The downtown Kingston construction, Digicel has started their regional headquarters down there, a hotel is to be constructed and at least two government high rise buildings are going up downtown, downtown is about to come alive,” he said.
It will be led by Director-General of the Planning Institute of Jamaica (PIOJ), Dr. Gladstone Hutchinson.
The announcement was made on Thursday by Finance Minister Audley Shaw.
He said the Government is moving decisively to stimulate economic growth.
“We have asked the head of the Planning Institute of Jamaica to do some special work on that for us. The Prime Minister has asked me to put together a team and I have done so and they have done preliminary work along with my colleague Minister of Industry and Commerce, Minister of Tourism, Minister of Agriculture,”
“We are working on strategies on how we can further stimulate economic growth in Jamaica…we can’t borrow our way to growth we know that,” Mr. Shaw said
In the meantime, the Finance Minister is hoping that several mega-projects on the drawing board will help to kick start the economy.
He pointed to the downtown Kingston renewal project and investment deals in the tourism and energy sectors.
“The Falmouth cruise ship terminal that is about to be opened in February of next year, US$220 million, a joint venture with Royal Caribbean cruise lines that is an important venture,”
“The downtown Kingston construction, Digicel has started their regional headquarters down there, a hotel is to be constructed and at least two government high rise buildings are going up downtown, downtown is about to come alive,” he said.
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